Ok, here goes!!!

Lozza001

Hi,I have done it... built up the courage to put my SOA on here and face the consequences :embarasse
Monthly income after tax................ 1500
Partners monthly income after tax....... 1100
Benefits................................ 478
Other income............................ 0
Total monthly income.................... 3078

Monthly Expense Details
Mortgage................................ 628
Secured loan repayments................. 766
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 97
Electricity............................. 34
Gas..................................... 75
Oil..................................... 0
Water rates............................. 19
Telephone (land line)................... 32
Mobile phone............................ 45
TV Licence.............................. 11
Satellite/Cable TV...................... 7
Internet Services....................... 0
Groceries etc. ......................... 250
Clothing................................ 0
Petrol/diesel........................... 250
Road tax................................ 20
Car Insurance........................... 73
Car maintenance (including MOT)......... 20
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 50
Other child related expenses............ 131
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 22
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 14
Entertainment........................... 20
Holiday................................. 0
Emergency fund.......................... 0
Car Payment............................. 220
Total monthly expenses.................. 2804

Assets
Cash.................................... 0
House value (Gross)..................... 140000
Shares and bonds........................ 100
Car(s).................................. 6000
Other assets............................ 0
Total Assets............................ 146100

Secured Debts
Description....................Debt......Monthly...APR
Mortgage...................... 129000...(628)......0
Secured Debt.................. 78000....(766)......0
Total secured debts........... 207000....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
CAHOOT.........................3188.5....78........15.93
RAC............................413.3.....10........21.98
HALIFAX (OVERDRAFT)............3800......0.........0
BARCLAYCARD....................3000......77........0
EGG............................3633.4....77........1.67
VIRGIN.........................3188......32........15.93
Total unsecured debts..........17223.2...274.......-

Monthly Budget Summary
Total monthly income.................... 3,078
Expenses (including secured debts)....... 2,804
Available for debt repayments........... 274
Monthly UNsecured debt repayments....... 274
Surplus(deficit if negative)............ 0

Personal Balance Sheet Summary
Total assets (things you own)........... 146,100
Total Secured debt...................... -207,000
Total Unsecured debt.................... -17,223.2
Net Assets.............................. -78,123.2

Created using the SOA calculator at https://www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.[/font]

======== Enter any other useful information below ========
There are 2 adults, myself and OH. 2 Children (one of which is a teenage dustbin) livingfull time, and 4 children who stay over one day/night a week.We are meeting repayments, but only minimum ones. Is there anything obvious that I can doto free up money to use to clear things faster. CCCS suggest br or a dpp. Br is not anoption as would affect OH employment and I don't just want to jump into a dpp without looking atother options.Any advice would be good. Oh I have applied for 0% cards to tfr cards to.Thanks

Smamfer

Hi there and welcome.

Im pretty new here so wont be giving the best of advice but im sure someone will be along soon enough to try and help.

Few things i did notice though is your gas looks really high! Is this a figure that is the same all year round or have you put a winter one in?

Mobile phone also seems high but that depends on how many it is for...

car insurance at 73 a month?? i hope this is for a minimum of 2 cars maybe? as it does look high

Does it really cost 14 a month just on hair cuts?? Maybe i dont go that often but it seems a lot..

Im sure, like me, you lurked first and know all about the cash back sites the daily clicks extra incomes etc so keep watching and try to cut down in smaller areas thats what im doing a bit here and a bit there all m akes a difference

Good luck and keep posting xx

Lozza001

Thanks Smamfer.

Any advice at all helps...

The car insurance is for 2 cars. I am going to try to reduce the payments there by changing to 3rd party fire and theft when it comes round for renewal. It might only save me £20, but it makes a little difference.

The mobile phones are contracted £20 each for me and OH per month. That ends in Feb and I think we will get OH another contract and I will go PAYG.

OH and DS have regular haircuts at £7.50 each, its maybe every 5-6 weeks. I am a cheapscate and I get my mum to trim mine.:p I break into a sweat when I see what a salon charges for a cut and blowdry.

Yup, I have been lurking for some time and I do the clicks but everynow and then I wonder if I will ever reap the reward. The pennies dont seem to go up very fast.

We did a u-switch last year some time, and our supplier said if we came back to them they would charge us less, and the payments did go down... but of course we were paying less but being charged the same so we ended up with arrears. The overpayments should go back down in a few months when we get back upto date (I hope).

Thanks for the good wishes too x

Smamfer

Lozza001 wrote: »

Thanks Smamfer.

Any advice at all helps...

The car insurance is for 2 cars. I am going to try to reduce the payments there by changing to 3rd party fire and theft when it comes round for renewal. It might only save me £20, but it makes a little difference.

The mobile phones are contracted £20 each for me and OH per month. That ends in Feb and I think we will get OH another contract and I will go PAYG.

OH and DS have regular haircuts at £7.50 each, its maybe every 5-6 weeks. I am a cheapscate and I get my mum to trim mine.:p I break into a sweat when I see what a salon charges for a cut and blowdry.

Yup, I have been lurking for some time and I do the clicks but everynow and then I wonder if I will ever reap the reward. The pennies dont seem to go up very fast.

We did a u-switch last year some time, and our supplier said if we came back to them they would charge us less, and the payments did go down... but of course we were paying less but being charged the same so we ended up with arrears. The overpayments should go back down in a few months when we get back upto date (I hope).

Thanks for the good wishes too x

Your welcome sweetie as i said ive only been active a week or so but the support you feel at times even without people typing it is overwhelming, you dont feel embarrassed and you know others are in the same boat.

Do you get your car insurances together thru the same company? Iknow a friend of mine did this with a company that specialised in it and saved an extra 100 pounds and then got a cash back so double bonus!
Mobile phone companies also often do a family special, plus with so many payg offers on i dont think you lose out thatmuch by changing, but like most of us it seems the cheaper option and before you know it your in an 18 month contract these days :mad:

And yes the clicks,, oh the dreaded clicks lol.. i know the pennies mount up but when you see that you cant withdraw till about 15 quid and your only making 6p a day lol.. its like waiting for xmas isnt it... I found slice the pie a ot quicker and more fun to do.

markelock

is it nosey asking what the benefits are? quite a lot based on a reasonable income.

your phone, mobile and broadband bills are too high. either virgin or talk talk (dependent on your connection) will combine the lot for a lot less.

tyllwyd

I was a bit surprised to see that your disposable income matches your debt repayments so exactly - have you juggled the figures in your budget to make it balance? Is it realistic, or do you find that in fact you usually spend more than this?

What is the situation with your car loan - is there any chance that you could sell the car and get out of it, or are you stuck for the moment?

How did you manage to end up so far into negative equity? Are you on a deal that will end in the near future, or will you be OK for a while?

Lozza001

Markelock, Its not nosey if it helps. The benefits are child maintenance, working tax credits and disability living allowance for my stepson. He suffers from ADHD which is controlled by drugs. He also has residual symptoms from menigitus which make him very dependent. I feel I need to add that bit with all the ADHD controversy at the moment.

raq

hi there

didn't want to read and run

anyway, I noticed that there isn't any % against the apr on your loan and mortgage

Lozza001

Tyllwyd,
My OH and I had rather eventful lives before we got together both being in quite a bit of debt from previous relationships. When we then bought a house and took out a consolidation loan about the same time. These together made matters all the worse. Looking back I know we should not have taken the loan full stop, we should have addressed out spending habits instead. Anyway we have been on a downward spiral since then.

Unfortunately we are stuck with the car, we need a seven seater for contact with OHs children and we owe more on the finance that the car is worth.

I didn't juggle the figures, it was coincidence, but I dont think I have covered enough for birthdays and christmas so I need to find more money to cover that too.

Lozza001

raq not sure of those % at the moment, will need to look into them. I am tied into both for the time being so I cant make any cuts there unfortunately.

Mac_Sami

Not an expert on this, but noticed:
Telephone (land line)................... 32
Mobile phone............................ 45

Any way you can look to reduce these? Perhaps combine with your satellite / cable to get a TV / landline / internet / mobile package? Have you looked at Quidco to see if there are any good deals? There are also some good SIM only contracts / PAYG at the moment worth looking at, could help you save.